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Microsoft Seeks Stake In TV Firm

6/18/2007 03:10:00 PM Eastern

Shanghai, China — Microsoft has agreed to pay $12.3 million for a stake in Chinese television manufacturer Sichuan Changhong Electric and will form a cooperative alliance with the company, according to a Reuters’ report.

The purchase is the equivalent of about a 1 percent stake in the company, and gives Microsoft the ability to work cooperatively with Changhong Electric “to develop, make and market TVs, computers and other digital home-entertainment products,” according to the report.

Sichuan Changhong Electric, which is a government-backed company, said it would soon present the deal to its board for approval.